PERTH (miningweekly.com) – The share price of Bass Metals rose by more than 13% on Tuesday after the graphite miner exceeded its forecast sales volumes during November.
ASX-listed Bass told shareholders that it sold 693 t of graphite concentrate during the month of November, which was achieved within months of completing the ramp up of the Stage 1 production at the Graphmada operations, in Madagascar.
“We are delighted to have completed our production ramp-up phase. We have now sold the vast majority of product produced during ramp-up on good terms,” said Bass executive director Peter Wright.
“We are excited to see that demand for our much higher priced large and jumbo flake product is very strong, as this positions the company well to continue to experience strong growth into 2019.”
Bass has previously said that with the ramp-up of the Stage 1 operation complete, the company would look to expand production from the current 6 000 t/y to the Stage 2 target of 20 000 t/y.
Bass shares closed at a high of 1.7c a share on Tuesday, up from an opening price of 1.5c a share.